| Element List | Explanation |
|---|---|
| Introduction | Ash-Sharqiyah Development Company announces the results of the Extraordinary General Assembly meeting (second meeting) |
| City and Location of the General Assembly's Meeting | Dammam - Al Nakheel King Khalid Bin Abdul Aziz Street Clock Tower Building , Where the association meeting was held by modern technical means |
| Date of the General Assembly's Meeting | 2024-06-30 Corresponding to 1445-12-24 |
| Time of the General Assembly’s Meeting | 19:30 |
| Percentage of Attending Shareholders | 25.146% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | attended the meeting: |
His Excellency Mr. Yasser bin Muhammad Al Jarallah (Chairman of the Board of Directors)
Mr. Ali bin Yahya Al-Jaafari (Deputy Chairman of the Board of Directors)
And Mr. Fayez bin Saleh bin Mahfouz (Managing Director and Acting CEO)
And Mr. Muhammad bin Ibrahim Al-Amer
And Mr. Abdul Rahman bin Hassan Al-Amoudi
Mr. Ali bin Yahya Al-Jaafari (Chairman of the Audit Committee)
Mr. Mohammed bin Ibrahim Al-Amer (Chairman of the Nominations and Remuneration Committee)
(2) Approval of the company’s auditor’s report for the financial year ending on 12/31/2023 AD after discussing it.
(3) The financial statements for the fiscal year ending on 12/31/2023 were reviewed and discussed.
(4) Approval of the appointment of Messrs. Sulaiman Abdullah Al-Kharashi Company (Al-Kharashi and Partners, Chartered Accountants and Auditors)
Among the candidates as auditor for the company, based on the recommendation of the Audit Committee, to examine, review and audit the financial statements for the second, third and annual quarters of the fiscal year 2024 AD and the first quarter of the fiscal year 2025 AD, and determine his fees at 250,000 riyals, excluding value-added tax.
(5) Approval of the Board of Directors’ decision to appoint Mr. Muhammad bin Ibrahim Al-Amer as an independent member of the Board of Directors, starting from the date of his appointment on 05/01/2024 AD to complete the Board’s session until the end of the current session on 07/19/2027 AD, succeeding the previous member, Dr. Khaled Al-Rasheed (independent). )
(6) Approval of amending the company’s governance regulations
(7) Approval of the policy, standards and procedures for membership in the Board of Directors
(8) Approval of amending the work regulations of the Nominations and Remuneration Committee
(9) Approval of amending the work regulations of the Audit Committee
(10) Approval of the remuneration policy for members of the Council, the emerging committees, the secretariat, and senior executives
(11) Not approving the disbursement of an amount of 2,750,000 (two million seven hundred and fifty thousand riyals) as a reward to members of the Board of Directors whose term ends on 07/19/2023 due to the lack of annual bonuses for them during their period of work on the Board.
(12) Approval of amending Article (1) of the company’s bylaws, related to (incorporation).
(13) Approval to amend Article (Three) of the company’s bylaws, related to (the company’s purposes).
(14) Approval of amending Article (Four) of the company’s bylaws, related to (participation and ownership in companies).
(15) Approval of amending Article (5) of the company’s bylaws, related to (the company’s head office).
(16) Approval of amending Article (Fourteen) of the company’s bylaws, related to (increasing capital).
(17) Approval of amending Article (Twenty) of the company’s bylaws, related to (board members’ remuneration).
(18) Approval of amending Article (Twenty-Nine) of the company’s bylaws, related to (voting in assemblies).
(19) Approval of amending Article (Thirty-eight) of the company’s bylaws, related to (distribution of profits to the company’s shareholders).
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.